Alterity Therapeutics (NASDAQ:ATHE) Trading 2.3% Higher – Should You Buy?

Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) shot up 2.3% during mid-day trading on Tuesday . The stock traded as high as $4.98 and last traded at $4.85. 2,860 shares changed hands during trading, a decline of 88% from the average daily volume of 23,692 shares. The stock had previously closed at $4.74.

Analysts Set New Price Targets

Several research firms have issued reports on ATHE. Zacks Research upgraded Alterity Therapeutics to a “hold” rating in a research report on Wednesday, June 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alterity Therapeutics in a report on Friday, July 17th. JonesTrading began coverage on Alterity Therapeutics in a research note on Tuesday, June 30th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, LADENBURG THALM/SH SH initiated coverage on Alterity Therapeutics in a report on Tuesday, June 16th. They set a “buy” rating and a $10.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.00.

Alterity Therapeutics Stock Down 1.0%

The company’s 50 day moving average is $4.67 and its 200 day moving average is $4.02.

Institutional Investors Weigh In On Alterity Therapeutics

An institutional investor recently bought a new position in Alterity Therapeutics stock. Citadel Advisors LLC purchased a new position in shares of Alterity Therapeutics Limited – Sponsored ADR (NASDAQ:ATHE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,144 shares of the company’s stock, valued at approximately $83,000. Citadel Advisors LLC owned approximately 0.25% of Alterity Therapeutics at the end of the most recent reporting period. 2.14% of the stock is currently owned by hedge funds and other institutional investors.

Alterity Therapeutics Company Profile

Alterity Therapeutics is a clinical-stage biotechnology company focused on the development of novel treatments for neurological and neurodegenerative disorders. The company’s research portfolio centers on small molecules designed to target underlying disease mechanisms, with an emphasis on improving synaptic function and mitigating neuroinflammation.

Among its lead assets is trofinetide (NNZ-2566), a peptide analog derived from insulin-like growth factor 1, which is being investigated for the treatment of Rett syndrome and Fragile X syndrome in ongoing clinical trials.